Luxembourg is an attractive business location. The country has an active economic policy that encourages international businesses. A good geographical location, political and social stability and business incentives are just some of the reasons why more and more investors choose to open a business in Luxembourg.
The company formation process in Luxembourg is straightforward and it resembles the company formation process in Cyprus, for example. Entrepreneurs will discover it is easy to set up a business there and the entire process should last approximately 10 days.
Our experts list the basic steps for opening a business in Luxembourg in this short video:
An attractive business environment
Luxembourg’s economic policies encourage investments and private initiative. The Luxembourg Government encourages innovation and investments in certain business fields through a series of incentives for activities such as:
- automotive components,
- environmental and health technologies and others.
Financial support in Luxemburg, just like in other countries like for businesses in Singapore, can be granted for special projects and to medium and small sized companies. The Luxembourg Government also offers capital grants and other long-term loans are available in Luxembourg.
The workforce in Luxembourg is highly educated and skilled and also multilingual. The country’s high productivity is largely due to its people. Citizens from EU and EEA countries, including Switzerland, have free access to the labour market.
Just like our partners in Switzerland, our lawyers in Luxembourg will help you in any legal matter regarding the Labour Law in Luxembourg or other specific details, if you are interested in the Luxembourg labour market.
The tax environment in Luxembourg is also competitive comparatively to taxation in other European countries. The standard VAT rate is 15%, levied on the supply of goods and services. An intermediate rate of 12% can apply on certain goods and a reduced rate of 6% is also available. The corporate income tax in Luxembourg is 21% for taxable income that exceeds 15,000 EUR and 20% otherwise.
Our Luxembourg lawyers can offer you more information about taxation in Luxembourg and the special legislation for foreign investments.
A dynamic economy and a high quality of life make Luxembourg a prime business location. If you want to expand your business to other European countries, like Romania, please contact our lawyers in Bucharest.
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